RumbleOn (NASDAQ:RMBL) Price Target Lowered to $7.00 at B. Riley

RumbleOn (NASDAQ:RMBL) had its target price cut by B. Riley from $9.00 to $7.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. B. Riley’s target price indicates a potential upside of 34.87% from the stock’s previous close.

Separately, Wedbush dropped their price target on RumbleOn from $7.00 to $5.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th.

RumbleOn Stock Up 4.6 %

Shares of RumbleOn stock traded up $0.23 during trading on Wednesday, reaching $5.19. The company had a trading volume of 69,396 shares, compared to its average volume of 161,583. The company has a debt-to-equity ratio of 2.23, a quick ratio of 0.27 and a current ratio of 1.12. The firm’s fifty day moving average is $4.82 and its 200-day moving average is $4.77. RumbleOn has a fifty-two week low of $3.13 and a fifty-two week high of $8.84. The company has a market cap of $183.31 million, a price-to-earnings ratio of -0.61 and a beta of 2.08.

Hedge Funds Weigh In On RumbleOn

Large investors have recently bought and sold shares of the business. Rhumbline Advisers raised its position in shares of RumbleOn by 3,910.5% during the 2nd quarter. Rhumbline Advisers now owns 19,772 shares of the company’s stock worth $81,000 after purchasing an additional 19,279 shares during the period. Virtu Financial LLC bought a new stake in shares of RumbleOn during the first quarter valued at approximately $90,000. Dimensional Fund Advisors LP boosted its position in RumbleOn by 35.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 29,182 shares of the company’s stock worth $120,000 after acquiring an additional 7,704 shares during the period. Magnus Financial Group LLC bought a new position in shares of RumbleOn in the second quarter worth $127,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of RumbleOn during the second quarter valued at $182,000. Institutional investors own 66.14% of the company’s stock.

RumbleOn Company Profile

RumbleOn, Inc primarily operates as a powersports retailer in the United States. It operates in two segments, Powersports and Vehicle Transportation Services. The Powersports segment provides new and pre-owned motorcycles, all-terrain vehicles, utility terrain or side-by-side vehicles, personal watercraft, snowmobiles, and other powersports products.